Global Inflation Finally Hits Home
Image by Getty Images via @daylife The United Nations food agency (FAO) kicked off 2011 by announcing that December of 2010 saw food prices eclipse the record levels hit during the 2008 food crisis, which triggered riots in Egypt, Cameroon, and Haiti at the time. The current spike in food prices has already caused violent food riots in Algeria, Tunisia, Morocco, Yemen, and Jordan. Food inflation has already hit double digits in China, India and Brazil. It’s not hard to see why when you look at how some of the major soft commodities have performed over the last 12 months: